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Jul 20 - 07:55 PM

EUR/USD - Opens Lower Ahead Of Key ECB Decision

By John Noonan  —  Jul 20 - 06:20 PM
  • EUR/USD opens -0.39% after ECB scepticism and Italian political woes weighed nL1N2Z11VInL1N2Z10E6

  • Market concerned ECB may not adequately address fragmentation issues as spreads widen nL1N2Z10M0

  • EUR/USD topped out ahead of 21-day MA, which descends to 1.1272 today

  • Supports is at 10-day MA at 1.0116 and break puts sub-parity back in focus

  • Market spilt in whether ECB will hike 25 BPs or 50 BPs later today

  • A 25 BP hike would disappoint EUR/USD bulls and lead to selling

  • EUR/USD will likely range trade ahead of key ECB desison

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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